Vroom

Hello everyone!

So actually today is the day where the results for the second round of COE (Certificate of Entitlement) bidding result is out. Not sure whether I've mentioned about this before.. So in Singapore, you actually need a certificate, which is a piece of paper, in order for you to be able to drive your car on the roads, this is to reduce the number of cars. So its actually based on demand and supply, to determine the amount you pay for that piece of paper. So when the demand increases, the demand curve shifts to the right, this will result in a shortage, leading to an upward pressure on price. The price of the piece of paper will rise, ceteris paribus. And this month, is actually the month where my dad has to actually renew the piece of paper for his van, so that I'll be able to drive in the time to come. So he actually is going to fork out about $22k in order for the van to be able to be driven for another 5 years. The $22k is actually equivalent to a small sedan car you can actually get in another country, that's actually a lot. But here my dad is, paying that sum to keep a 10 year old minivan on the road for another 5 years, its really extreme... To get a new car, you'll actually be paying much much more, as the government claims that cars should actually be considered a luxury good here (maybe they didn't say it out explicitly, but that's the whole idea of what they mean)... Its rather sad that not every family actually get to own a vehicle here, too bad? Get used to it? Maybe I can't hahaha Its hard to convince a car lover to actually give up wanting to own a car, so.... I'll just have to earn more money in order to fulfil my wish!!!!

Beh